Warning lights
Signals from the annual accounts, the CBE and the Official Gazette, each with its threshold and source. No score, no verdict.
-
Two loss years in a row NBB
Negative result in 2024 and 2025.
-
Tight liquidity NBB
Cash and receivables cover 21 % of short-term debt in 2025; threshold 65 %.
-
Busy address KBO
17 other companies have their registered office at the same address; threshold 10.
Financials
Financial year 2025
Etex New Ways from Zaventem, company number BE0416906988, closed financial year 2025 with a result of € -81.7 million after tax. For that financial year Etex New Ways recorded revenue of € 681,631 and equity of € 49.4 million. Compared with financial year 2024, the result moved from € -55.7 million to € -81.7 million. The company made a loss. The buffer shrank hard: equity is 62 % below last year. A strong own buffer against the debts. The most recent annual accounts were filed with the National Bank of Belgium on May 29, 2026.
€ 49.4 million
▼ 62% vs 2024
Assets minus debts, by the books. What is left if everything were sold and paid today.
€ -81.7 million
▼ 47 % more loss than in 2024
Profit after tax over the fiscal year.
Loss, nothing to pay out
Reserves fell to € -147.6 million.
People and assets in 2025
4.5
▼ 2.5 vs 2024
Average over the fiscal year, from the social balance sheet.
€ 1.1 million
▼ 56% vs 2024
€ 247,100 per full-time equivalent. Payroll staff only. What the director pays themselves is already netted into the gross margin and is not shown separately in the accounts.
€ 4,447
Book value of vehicles, furniture and equipment.
Debts at end 2025
€ 5.4 million
Loans from banks and other lenders, long and short.
€ 669,521
▲ 71% vs 2024
Supplier invoices still open on the last day of the fiscal year. Pays suppliers within 47 days on average.
€ 213,476
▼ 71% vs 2024
Taxes, VAT and social contributions still to pay.
| 2022 | 2023 | 2024 | 2025 | Change 2024 → 2025 | |
|---|---|---|---|---|---|
| Revenue | € 2,554,974 | € 2,216,123 | € 1,478,080 | € 681,631 | ▼ 54% |
| Profit after taxes | € -6,143,402 | € -10,296,035 | € -55,695,494 | € -81,699,803 | ▼ € 26 million |
| Equity | € 26,107,685 | € 36,811,650 | € 131,116,155 | € 49,416,352 | ▼ 62% |
| Total debts | € 1,058,706 | € 61,152,186 | € 1,147,975 | € 7,092,047 | ▲ € 5.9 million |
| Retained profit | € -29,172,315 | € -10,178,587 | € -65,874,082 | € -147,573,885 | ▼ € 81.7 million |
| Bank debt | € 0 | € 59,255,609 | € 0 | € 5,411,954 | |
| Balance sheet total | € 28,649,906 | € 99,378,394 | € 133,355,363 | € 56,615,418 | ▼ 58% |
| Employees (FTE) | 4.8 | 5.9 | 7 | 4.5 | ▼ 2.5 |
Key figures of Etex New Ways, fiscal years 2022 to 2025, from the annual accounts filed with the National Bank of Belgium.Next annual account (fiscal year 2026) expected before 31 July 2027.
What happened to Etex New Ways?
What happened at Etex New Ways in recent years, according to the Belgian Official Gazette, the CBE and the National Bank:
- Giulio Pollina stepped down as director. NBB
- Patrick Balemans stepped down as director. NBB
- New annual accounts for financial year 2025: loss of € 81.7 million. Source: NBB ↗
- Melchior Marie H. De Vogüé stepped down as director. NBB
- Giulio Pollina became a director. NBB
- Patrick Balemans became a director. NBB
- Melchior Marie H. De Vogüé became a director. NBB
- New establishment in Kapelle-op-den-Bos. KBO
In short
From € 6.1 million loss in 2022 to € 81.7 million loss in 2025.
Paid € 5,830 in corporate taxes since 2022.
Pays suppliers within 47 days on average.
Management
The shares are held by Eternit Investment SARL (100%). It owns 100% of Etex Holding UK Remagin Limited, 100% of Begeos S.A.S., 100% of Evolusion Innovation Group Limited and 76.4% of EKKO S.A.S. itself.
Directors
According to the 2025 annual accounts
Giulio Pollina
Director
since 2024 · until 2030
since 2020 · until 2026
Patrick Balemans
Director
since 2021 · until 2027
Shareholders
Eternit Investment SARL
100%
Participations
Etex Holding UK Remagin Limited
100%
Begeos S.A.S.
100%
Evolusion Innovation Group Limited
100%
EKKO S.A.S.
76.4%
Establishments
Establishment units
Physical locations of this company
Luchthaven Brussel Nationaal 1K
1930 Zaventem
Kuiermansstraat 1
1880 Kapelle-op-den-Bos
Active since 28 January 1977
Who else lives here?
A building full of entrepreneurs or one very busy letterbox? Another 17 companies are registered at this address.
All companies at this address →KPMG Bedrijfsrevisoren
€ 104.7 million revenue · 2025
MICROSOFT
€ 1.7 billion revenue · 2025
KPMG ADVISORY
€ 96.9 million revenue · 2025
KPMG Tax, Legal & Accountancy
€ 79.7 million revenue · 2025
KPMG Certification
€ 430,348 revenue · 2025
+12 more
What is an establishment unit? An establishment unit is a geographically identifiable place where activities of the enterprise are carried out.
Details
- Company number
- 0416.906.988
- VAT number
- BE 0416.906.988
- Registered office
- Luchthaven Brussel Nationaal 1K, 1930 Zaventem
- Names & denominations
- Etex New Ways
- Enterprise type
- Rechtspersoon
- Legal form
- Public limited company
- Legal situation
- Normale toestand
- Start date
- 28 January 1977
- Peppol
- Active · Active since 3 Oct 2025
- Activities · NACE
Overige diensten op het gebied van informatietechnologie en computer
Overige advisering in verband met programmatuur en levering van programmatuur
Activiteiten op het gebied van computerconsultancy en beheer van computerfaciliteiten
Computeradviesbureaus
Computerconsultancy-activiteiten